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of the cuts into taxes. but at any rate, we think early this week we'll have a clear sense of getting this done t. may have to go back to the house if the senate does amend it, and then the house i think would quickly pass it. host: stick with us real quick. senate majority whip dick durbin was on fox news sunday yesterday talking about the continuing spending resolution to keep the government funded and timing on what. i want to play that now. >> this is all very important, i understand, but we have work to be done in just a short period of time. i urge my senate colleagues, let's be sparing in the amends. let's get the c.r. passed. we can do it and do it quickly this coming week. host: before we let you go, if they don't get this done this week railroad company we thinking members may come back from recess next week before the 27th? is there any talk of that? guest: there's been nothing that i've heard, and i mean, i just wouldn't -- i wouldn't be too speaked by this. i think they will get it done early. i think they'll know by today, we'll be able to rough out a schedule after we h
. future number two is, you don't change the spending which means you have to raise taxes to avoid a big debt crisis. then you have to raise the top marginal tax rate to 92% in order to close the gap. there is no way you're going to get a business to invest with a 92% tax rate. high taxes are disaster. i mean look, melissa, open a business in a world with high taxes or disaster, which would you pick? that's where we are. melissa: i hear you. what were the some of the things you heard from other people on the panel that were persuasive? when you looked out in the audience, were people listening? were they writing things down or empty chamber no one is really paying attention? >> well, here's the good news. the panel consisted of republicans, democrats, academics and former senator judd gregg and there isn't one person on the panel who did not say we have a problem and that problem is urgent. it should be dealt with now. we might disagree to the degree spending is the top issue and taxes can deal with it but no one is there saying hey, do nothing. that's what makes me most nervous about th
features it claims put brakes on the prius. >> you have tax questions? we have answers. you'll get your personal >>> state lawmakers coming up with an idea to protect school kids from tragedies like the sandy hook massacre. the lawmaker wants every school classroom door to have a lock that can be secured from inside of the classroom. abc 7 news has the story. >> one teacher saved her students by locking her class door. the security chief says there is a lesson to be learned from that. >> like what happened is that gunman went to the class rooms where doors were unlocked. the classroom that's were locked, he couldn't get in. went to the next room autos that got one lawmaker thinking it's time to mandate all california public schools have classroom that's can be locked from the inside toompblgts newer campuses have that measure 30% of the schools state wide don't. >> right now in many class rooms most older classrooms if there is an intruder the teacher has to walk outside to lock the door. because locks are on the outside of the door. >> state senator marty block believes it can be done
these knuckleheads? orregard to taxing the rich cutting out loopholes, everybody in this country gets some form of entitlement in one shape or form. i don't understand why because i get a paycheck and somebody else makes their money through investments or a different way, why i am taxed more. if you earn money, you get taxed on it the same as everybody else. i do not agree with that at all. and i don't understand why we have to give tax subsidies to corporations that do not need it. why on earth does the oil company need our money? why does the agriculture business need our money? you are making enough money. cut out the tax loopholes and we can get out of this mess. host: we are covering the cpac conference and there are a number of ways you can watch and listen. depending on what the house yesterday, we will be live with the house this morning, once the house recesses, the cpac coverage can be seen on this network. you can also listen on c-span radio and wanted anytime on our website, c-span.org. also be a location to what some of the conferences that get underway this morning. some other com
. but listen to this. the democratic budget calls for $1 trillion in tax increases over the next 10 years. how are you going to grow an economy with that? and every working american is going to pay some of those taxes. let me ask you, let me ask you this. are you already not paying taxes through the roof? i am. property tax, sales tax, gas tax, state tax, city of new york tax, federal income tax, and almost everything i do in my leash time, rental cars, hotels, planes, all taxed as well. and the democrats want to add another trillion dollars in taxes? so we're quickly becoming sweden which has the highest tax rate in europe. u.s. corporate tax is already the highest in the world, already. and there is no doubt president obama wants to raise them even further. so, again, is this a sound economic policy? is this going to grow the economy in the u.s.a.? is it? finally, the president and the democratic party have failed to tell the american people exactly what programs they will cut in the future, if anymore. once again, there is no specific entitlement reform put forth by the president. this is r
to end medicare as we know it. nobody, as in the ryan budget, wants to reduce taxes dramatically on the wealthiest americans -- 39% to 25% -- and then take away deductions from middle-class people, good deductions that make sense like the mortgage deduction, the charitable deduction, the retitle deduction, the health care reduction. no, no wants to do that. and no one wants to eat our seed corn. investment in education, investment in infrastructure, investment in sign b scientific research in order to keep narrow loopholes open, reductions if you move the business overseas. no, they don't want to debate that. but now we have a budget. because of the leadership of the chair of the budget committee and the members of her committee -- and, by the way, this is no -- this is not a small group of democrats. it runs from our most liberal members to our most conservative members, all united around the budget that is fiscally responsible. it meets the gramm-rudman -- i mean, i'm on old guy -- the simpson-bowles constraints, budget target. it invests in jobs in the economy, and closes loop
taxes and pay cuts, instead what they did was they taxed bank deposits. they're calling it a tax. a lot of folks are calling it a seizure. here's what's significant. even small depositors below the insurance threshold are going to get hit. the original number for small depositors below 100,000 euros was 6.5%. they're working in parliament right now about shifting that and any other subsequent plan suggests that if you have insured money it will still get hit. what did we see over the week whend this announcement happened on yesterday? runs on the atms at the banks in cypress because they'd shut down the banks as a result of this. they stopped all wire transfers and you also if you tried to take money out they had partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of
tax reform that does not raise revenues but reduces the burdens of our tax code on small businesses and individuals. and regulatory reforms that likewise reduce the ongoing burdens on small businesses, job creation, and those struggling to achieve the economic train. i was encouraged by his answer to both questions. on tax reform in particular, the president ported -- pointed to corporate tax reform. he said he believed there was a lot of agreement between republicans and democrats on corporate tax reform, on broadening the base and lowering the rates so we can be internationally competitive and remaining revenue neutral. all of that was encouraging. those were principles that have wide agreement. if we lower our rates, our country has the highest of any developed country in the world. over a trillion dollars -- over $1 trillion of capital is overseas. we need to bring that back so we can get back to work appeared i was encouraged but his expression of willingness to get that done. on the second issue, on reducing the burden of regulations, job creation, economic growth, he likewise
by adopting cuts but in the tax codes, the tax breaks, the tax credits that are loaded up in the tax code that go mostly to the wealthiest americans. you are talking about getting rid of the tax benefits or loophole? >> that's exactly right. >> give me an example of this. is there enough money there? >> absolutely enough money to over $1.2 trillion over 10 years. we could get it, for example, from the corporate deferral on-shore profit did companies that make their profit did overseas, did he ever their payments, sometimes never pay them, and >> bill: that just encourages people to move their money or jobs offshore? >> it's an incentive. >> why should we be rewarding them for exporting jobs basically? >> what these corporate interests and wealthy americans do is hide spending in give them a check? we would is a no way. in the tax code, nobody is really examining that. >> bill: exact. >> special tax -- well, mortgage interest deductions for second homes. not just a first home. i will tell you, a big one is the fossil fuel subsidy. i am talking about oil an
for medicare. or else i lose my provider, and i think that's a tax they are putting on people with -- bilities and trying to got to pay on their disability. and those with legionnaires disease or h.i.v., dirty needles. host: ray, atlanta, georgia, republican party. good morning. caller: good morning. very interesting conversation you're having this morning. i have found that most people pend a fairer amount of time planning for their vacation than for their retirement. i work with a fortune 10 company and have been with them for 28 years so at the water cooler hearing different conversations if you ask people how much money they have in their 401-k, a lot of them have no idea nor do they have any idea on the different plans to put their money in. it's rather appalling, actually. host: ray, how old are you? caller: 52. host: when do you plan to retire? caller: i'm going to work until i'm 62-63 years old. something about public america, i have a -- family members with retirement pensions about $65,000. being in corporate america my pension is nowhere near that, so if we don't save in our 401-k t
? if you are tired of washington's high taxes and big spending here is one way to stick it to the man >> tom: okay, you go first. i'll be right behind you. i have seen a lot of tax protestors and they do put them in prison when they don't pay their taxes. yes, people go to jail. i'll let you fight the battle first. thanks to everybody that contacted the show. keep your comments coming in. tom sullivan show, we're open for business 24/7. check out our facebook page, and then tom sullivan show. there is a lot of tom sullivan show, you can follow me on twitter at sullivan radio and all the things to contact us on the web my main webpage which is tomsullivan.com. thanks for joining us. make sure to tune in to the radio show. listen in through our fox news radio app. download it from itunes. you can hear us online by clicking live button on my main website. we or radio every day from 3:00 to 6:00 p.m. eastern time. we'll have another great show for you to fox business, but in the meantime, i hope to hear you on the radio. lou: good evening, everybody. thank you for joining us. the dow jone
is the disposable income after that payroll tax disappeared? continue negotiating. 82% is a proof of the way congress does its job. joining us now from washington, d.c. is steve moore. senior economics writer at the "wall street journal." will compromise and improve their standing in the eyes of the american people? i highly dow it. >> let me bring you up to date. there is still black smoke coming out of the capital. we still have not seen a senate budget. by 4:00 o'clock or 5:00 o'clock tonight, maybe. hold onto your hats, we make it a set budget. that would be quite a rare occurrence on capitol hill. people are extremely angry about the budget situation. they are extremely angry apple parties because of the accumulation of debt. they do not seem to be doing anything to stop this tsunami of red ink. washington is incomplete disarray. what do we do in november? we reelected 96% of these people. the numbers do not add up. dagen: i completely agree. if you look at the proposals from paul ryan and the senate democrats, where do you think there is room for compromise? >> i have looked through bo
taxes. you have probably heard the sequester cuts go after about $44 billion in this fiscal year. let me give you a sense of this. taxes on tobacco and alcohol and gaming, gambling, lotteries, generated together $75 billion compared tough sequester, that taxes are doing a very powerful job. that is, federal, state and and local revenue. two states, two states have legalized the recreational use of marijuana. they are colorado and washington . colorado collects more than $5 million in sales, $5 million in sales from dispensaries, pot dispensaries, marijuana. washington is reportedly collecting some $750,000 in taxes, although they have been having trouble getting dispensaries registered with the state. it is affecting their revenue. pot smokers procrastinating. hard to imagine. well, regarding that $13 billion pornography industry, 13 billion. california is earning about $36 million per year just in revenue from the porn industry. it's worth about a billion dollars overall to the economy, just in southern california. well we are on the subject of sex in addition to the so-called vice taxe
this week showing a wide gap, indeed, remains over spending and taxes. plans on the table both sides are taking to the airwaves to try to make their cases. peter doocy is live in washington. peter, does it look like either side is ready to give any ground? >> reporter: it depends on which interview you with a watched this morning, john boehner told abc news president obama already got the new taxes he wanted back in january so more taxes shouldn't even be on the table this time around, but another remember can bob corker indicated on fox that new taxes could be part of the discussion if democrats agree to serious entitlement reform. >> think republicans, if they true entitlement reform, would be glad to look at tax reform that generates additional revenues. that doesn't mean increasing rates. it means closing loop homes and arranging our tax system so we have economic growth. i think we've been saying that from day one. >> reporter: the house budget committee chairman paul ryan says he thinks president's trip to capitol hill to meet with republicans is a good start but he thinks the
vitality of the population. our population grew by 50%, but our tax base stayed the same. people who are here legally, especially the new american citizens, are looking for jobs and they are scarce. 22 million americans are out of work, and now the proposal is to waive the carrot of citizenship to millions more. and when we were talking about giving amnesty to millions, maybe 20 million illegal aliens, how much more scarce will those jobs become? mr. speaker, we have heard these proposals before. in 1986 we said that if we granted amnesty there would only be about 1.5 million people who would be included. in truth it turned out to be twice that amount. we were also told that it would never happen again. our borders would be secure and this problem would never occur again. in truth that was not true. so now 27 years later our borders still aren't secure and here we are doing this all over again. well, we got fooled once. by news reports we were told there were 11 million illegal aliens in this nation right now. by using 1986 as a yardstick we can guess by offering amnesty there might
now that they are working on does nothing more than raise taxes. they want more of your money, more money out of your paycheck. ask yourself does washington really need more of your money? we are $16 trillion in debt. we have deficits we can't even wrap our arms around, and they want more of your money. if you were a financial advisor that put you $1 million in debt and ripped through your college savings for your children and all of your checking account and said, just give me more money and we'll solve the problem, would you do it? absolutely not. more than jobs, though, we are also working to save medicare and social security, the commitments that we have made to the american people. so let's take a look here at the big picture. here's a budget breakdown of where we are at right now. look, your eyes are glazed over and we start talking about the trillions of dollars that we spend, but let's take a look at what you pay versus what you expect. this big blue part right here? that's on auto pilot. no adults have come to the table to talk about where we are at today and how to actuall
washington times" -- there are no sacred cows that calls for $1 trillion in new taxes. what's your takeaway? guest: well, what it does is also call for substantial cuts, but it deals with deficit reduction in a balanced way. what the republicans want to do is do deficit reduction simply by cutting, cutting, cutting. doing away with medicare as we know it. right now converting that into a voucher system which we very, very onerous for senior citizens, making devastating cuts in medicaid which means that millions of millions of american people and kids will lose their health insurance. massive cuts in education, in nutrition. basically every program that in the middle of a terrible recession working people depend upon would be done away with. what my view is -- i think the senate agrees what the committee is moving toward is to say, wait a second, we are seeing a middle class collapse, poverty at a high rate while the wealthiest and corporations are doing extraordinarily well. we are looking at record breaking profits for corporations and yet their effective tax rate is the lowest since 1972.
taxes approved in january. but 1.8 trillion would come from repealing the president's signature health care law. in addition the plan convers medicaid to a block grant to the states and reduces its federal funding share. ryan also proposed, as he has in the past, transforming medicare by giving seniors a fixed amount to purchase traditional program coverage or a private plan. last year's republican vice presidential nominee acknowledged that the plan won't get past senate democrats or president obama. instead, he said, it's an opening bid. >> will the president take everyone of these solutions? probably not. are a lot of these solutions very popular and did we win these arguments in the campaign? some of think so. and so what we're saying is here's our offer. here's our vision. eiras how we propose to balance the budget and grow the economy, repair the safety net, save medicare. >> reporter: be democrats quickly charged that ryan's math, especially on taxes, does not add up. he would eliminate most deductions and lower tax rates. white house spokesman jay carney said ryan asks nothing
taxes taken out of the pockets of hardworking american families, more government spending which adds to the trillions of dollars in debt that will be handed down to the next generation. our friends on the other side of the aisle talk about a balanced approach, but they refuse to even balance their own budget. our vision calls for a stop to washington's failed policies and reckless spending. it says american families and small businesses understand you can't spend more than you take in. you need to balance your budget, and it's time for washington to do the same. this vision seeks to protect the things that we value most, to keep the promises we made to our seniors, to our veterans. i'm the son of a u.s. marine. while at the same time allowing us to leave a better future for our kids and our grandkids, that's the vision i want to work toward and that's why i'm proud to support the house budget committee's proposal which we'll be voting on later this week. this isn't about passing a budget for one year, just one time. this is about creating lasting solutions that help grow our economy
.85 trillion off the deficit over the next decade. it does so by raising nearly $1 trillion in new tax revenue, by cutting tax expenditures, and closing loopholes in the tax code and cutting $733 billion in spending. the remainder of the package is made up of savings on interest payments. murray's budget includes $275 billion in some health care cuts, less than the $400 billion the president previously put on the table and what he talked about in the state of the union. it includes $240 billion in defense cuts. senate democrats also propose $100 billion on new stimulus spending on infrastructure projects. >>> the budget includes no change to social security. the president reportedly faced some skepticism yesterday when he spoke to senate democrats about potential plans to switch to a, quote, chained cpi, which could lower the rate at which social security benefits are increased and cut the cost of the program in the long run. this morning, the liberal "huffington post" has a banner headline quoting senator tom harkin. quote, he said he hopes we reach some grand bargain. but what is in that gra
of the nation of cyprus. the government elected to come up with a plan be after the parliament levied a tax of up to 10% on anyone who had any bank deposits. now the question is whether they going to do. this is important for us and of course, that can affect our 401k. but that dow average just hit a record high. greg is following the story from london. reporter: that's right, folks today are scrambling to come up with a new way from dragging all of your done with it. they voted down a plan that would see big bites taken out of private bank accounts. again, there has to be a way to get this country out of the way. one way to do it is lax banking regulations. moscow has a stake in all this. officials are reportedly looking for a big loan. back in, with strings like energy and getting rights for the people. the banks are worrying that people. we are told that it could be closed until some kind of deal is done. atms are working. you can get about $1300 out of it and atm each and every everyday. but the hitch is that the atm's run out of money by about 7:30 a.m. so you have to get there early.
: tax time. hate to remind you about that, but millions of americans are preparing to pay uncle sam. they're looking for a tax break as well, like the government tax credit. as much as $7500 for environmentally friendly electric cars. while ads say these cars produce zero emissions, our next guest says that may not actually be the case. in fact he says green cars have a dirty little secret and tax breaks for them may not be in the best interests for taxpayers. he is the author of, cool it, skeptical environmentalist. he wrote an article in the "wall street journal" just the other day, the dirty secrets about electric car. what is a dirty little secret about what is supposed to be a clean car? >> they don't emit co2 when driving on the road but they take up a lot of co2, fossil fuels when they're being produced. they take up as much as it would take to drive 80,000 miles when it gets produced because battery are incredibly energy costly to produce. then at the same time, of course you actually recharge them with electricity. that is also mostly produced with fossil fuels. jenna: so i
but kept the tax benefits to balance the budget, which isn't balanced. gives tax cuts to people that make a million dollars a year, cuts medicaid benefits, privatizes medicare benefits. this is crazy. the problem with paul ryan is people don't believe him any more, simply don't believe him. he may be another sarah palin, his day has come and gone. it is hard to take him seriously if you're a policy person. you can't be a successful conservative or successful liberal, the numbers have to work, you have to be taken seriously, you have to be truthful. that budget was a propaganda document, not a serious budget. i was very surprised at that. >> steve, what did you make of that, insofar as the ryan budget, over 40% of savings are based on repealing the president's health care law which is law of the land, being enacted in over 25 states. is he a serious political figure, a serious policy figure in republican circles? >> he is a serious political figure and a serious policy figure in the republican party, but the governor's criticism about the budget is spot on. its formulations are not based i
happened in benghazi because hillary clinton's e-mail has been hacked. >> brian: it's taxes versus entitlements on capitol hill today. republicans and democrats present their budget plans. but which one is better for your wallet? if you like a light wallet, one might be better. if you want within filled with money, one might be better. >> steve: i want the george castanza wallet. tv anchors are supposed to be ready, aren't they? >> we have breaking news to report to you. fox 54 has just learned that a huntsville news anchor is being proposed on live -- right now. (scream). >> brian: that is great. >> steve: oh, man. meet the anchor who got the surprise of her life on live television. >> brian: that is awesome. >> steve: it is. "fox & friends" hour two for tuesday starts right now. that's why you got to be really careful. we're very trusting of the people behind the scenes who put things in the teleprompter. >> what's funny is it took her a second, you know, fox anchor is being proposed -- oh it came out and then she realized. that's what happens with breaking news. >> brian: you se
a budget proposal yesterday. without adding additional taxes. expected to release proposal soon. with it may come nearly a trillion dollars in additional taxes for americans. joining me now is congressman of chicago. congressman, talk to me first about the democrats plan. we are reading it could include another trillion dollars in tax increases. is that true? >> i think it will be a balanced plan. when you look at what we have done already and we have done about 2.5 trillion in deficit reduction, it has been far more waited. this will continue to have a balanced program going forward. it is a bit of a retread to what they did before the last race. melissa: they will have to be reconciled. let's talk about adding more revenues or tax increases. do you think they can really handle more given this economy? >> i think we can get rid of the special interest tax loopholes. melissa: are you talking about changing to ordinary income? that $21 billion makes a lot of difference. it may make a difference whether we have a medicaid program that can help meet the needs of the people falling
and type in conclave. >>> back to local news. a group of san jose property owners are choosing to tax themselves. and they've been doing it for years. >> their goal is simple. to make san jose look much better. if they don't they fear no one will in this age of budget cuts. we're joined for tonight's bay area proud. focusing on what's important in our community. >> to understand what's working here, you don't have to go back far to when it wasn't working. in 2008 services were being slashed. but at that bad time was the perfect time. some san jose business people stepped up and offered to help. the city is glad they did. it's a partnership that's working and is tonight's bay area proud. >> reporter: success in a big city like san jose is often measured by what you have more of. this success story, though, is about what the city has less of these days. less trash in the street. less gum on the sidewalk. less graffiti on the wall. >> the streets are beautiful. >> reporter: chuck hammer is not only grateful for the improvement, he is in large part responsible. hammer owns the pizza my he
's going to cut taxes for everyone and get two tax brackets of 10 and 20%. and then medicare is going to become private subsidized health care plans for people under 55 and eliminates the federal program. if you're cutting taxes by that much, it sounds like, well, it sounds like you're cutting those other things dramatically, too. >> well, yeah, paul leaves it out in there. to me, this is a very good blueprint to go forward on. i also support tax cuts. i do think that ultimately, tax cuts do generate more revenue. i come from the jack kemp school of republican party which does believe in tax cuts. but, again, this is our plan on the table. president should come forward with his and we'll go forward from there. this is a divided government. the republican realizes that. we're going with what we feel is our best case. and it's really not challenging, but it's asking the president come forward with his. the fact that he's coming in tomorrow. we'll go over some of these issues with him. and it will be a good first step. >> you know what's kind of amazing about that. some of your fellow re
of social security tax are all slowing our progress to where we should be. >> michael: of course these companies would be hiring accountants now because they're making so much damn money because they're not paying enough wages to their workers. that's part and parcel of how it works. >> yes remember a fundamental tenant of the chicago school and i went to the chicago school is to get rid of unions, that means driving down wages. i just reported in my column in tax analysts, tax notes, if you take the average increase of income for the bottom 90% of americans from 1966 when lbj was president to 2011, it's $59. you measure that as one inch. the top ten percent line is 163 feet and the top 1% of the top percent. the mitt romney-bill gates crowd, five miles to one inch. >> michael: that's amazing. that's amazing. tell me, is this how things start? is there a reason to be optimistic? >> yes well, look, we got into this terrible situation because of three things. we had a president who said tax cuts will make everybody's income grow up. i have written and challenged the data, no, incom
and tax changes to workout that with republicans on the hill. yesterday the president sounded optimistic, take a listen. >> are you making some phrog. >> i think we've had good conversations. >> reporter: the question now moving forward is whether they will come together on some of these issues. the president traveling today in the chicago area going to announce a $2 billion green energy fund. speaker boehner's staff immediately saying look for this to have any credibility the president has to increase oil and gas production in the u.s. and they are specifically citing the keystone pipeline. they are waiting to see whether or not the president is going to approve that, jenna. jenna: we'll be talking to two lawmakers working on the keystone pipeline and some legislation through congress to speed that up. in the meantime, just as far as the republicans, their reaction to these series of meetings, what are they telling you. >> reporter: to summit us they are saying the old ronald reagan line, trust but verify. they see the president having dinner with republican senators a week or so ago. l
much. bill: a related story in california we were watching yesterday. retroactive taxes that go back five years? how can you do that? martha: find incredibly creative ways to tap into people's wallets. bill: the governor of california has to make a decision. watch that on the desk of jerry brown. we're just getting rolling. there is a new battle over the health care law. some changes states are fighting to put in place. you can imagine the amount of confusion. we'll explain that to you. >> nice work if you get it. there is new government job out there one agency is creating. pays six figures a year. might check it out despite the punishing budge jubt cuts we're hearing about. bill: benghazi six months later. the six simple questions one lawmaker that the believes the administration is dodging. >> the fact we have four dead americans. was it a protest or guys out for a walk decided they would go kill some americans. what difference at this point does it make? usual breakfast sandwich. a lot more flavor. [ anouncer ] ihop's new griddle melts... made fresh and hot! hand crafted just for
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of middle-class families while the wealthiest americans get yet another tax break. after wasting valuable time last congress, voting more than 30 times to repeal health care reform rather than focus on jobs and the economy, the republican budget again calls for its repeal. in addition, their budget ends medicare as we know it, and surprise, surprise, turning it into a voucher program that reduces benefits and leaves seniors paying higher out-of-pocket costs. while this budget blueprint is still lacking in specific details, it is clear that in order to meet the spending targets it outlines, house republicans will slash investments in key areas that are essential to economic growth and job creation, education, job training, science and research will all be on the chopping block in order to reduce the deficit with little regard for the jobs that would be lost and the impact it would have on our nation's competitiveness. the republican budget factors and the sequestration's arbitrary cuts over the next decade, something else that's being rejected by the american people. for new mexico, this m
tax year 2009. the agency says more than 984,000 americans have yet to file their 2009 returns. the irs says if you want to get any money back from returns in 2009 now is the time to do those taxes. 2009 tax returns must be submitted by april 15th of this year too get your refund. otherwise the money is handed over to the u.s. treasury. >>> all right, ticketed for tailgating. what a recently cited sheriff is now saying about his citation. >>> plus, the grand princess has finally left san francisco on its maiden voyage. how the cruise ship is expected to help the city over the next year? >>> plus a car-wash for a cause. the fundraiser to help the family i of a young woman found dead on caltrain tracks. >>> we have more developing news coming into the ktvu channel 2 news newsroom and it comes to us from the sierras, where a search is underway right now at a popular ski resort for a missing bay area man. 45-year-old david hanholt of los gatos is reported missing by frens friends at squaw valley of the placer county sheriff is now involved in the search. a crusship that makes san f
the parliament rejected a bailout that would have taxed its own citizens' bank accounts. the banks are closed the rest of the week. >>> where are we with this situation? >> in a standstill when it comes to cyprus. the parliament is betting the european union and central bank will not cut them off for -- not going through with the plan to tax deposits. they have almost a week to negotiate. next tuesday is when the banks open up. in the back channels with russia on financial support, so it seems they're hoping they can find a stopgap. >> shepard: what i didn't understand was the real problem with this situation in spy russ is the russians, who have been laundering money, have stashed so much money in the banks, the banks are bigger than the economy in the country. so they could have taxed it at 13%. they have, like our federal deposit insurance company, they have guarantees up to 100,000 euros. why not tax problem kids and not every day folks. >> it could come to that. the vote that failed was above 20,000 euros. >> then you violate -- >> it gets the percentage a little bit high if you only res
swallowed a man in the middle of his golf game. trapped in a pile of mud 18 feet below ground. >>> and a tax season snafu causes refund delays of more than a month. find out if your refund is one of them. live in the cnn newsroom. >>> good morning. thank you for being with us. i'm carol costello. we begin this morning at the vatican, where billowing black smoke reveals the catholic church is in search of a leader. cardinals have voted three times now and have not selected a new pope. things get even more interesting. the cardinals enter the conclave with no clear front-runner and we are wondering, if the election is deadlocked or if they are ziering in on a successor to pope benedict. chris cuomo, let's start with you. the cardinals breaking for a long lunch. how much has this process been pushed along? >> well this is the most important part of the day you could argue, carol. they are not allowed to politic in the conclave. more of a religious ceremony than a convention this is their chance. they eat, rest, move around, go in different rooms. we are told, of course, they take time to pray.
and housing and job creation, but the headwind with tax increases january 1, the sequester spending cuts kicking in and now all these issues coming out of europe, all things we expect the chairman ben bernanke to talk about in the press conference in 90 minutes from now. lori: peter, thank you. melissa: just under an hour until the fed decision, what our futures traders betting on? jeff flock with that, what are they betting on? jeff: the difference in the trading options, contrast that and all the people you see, walk up here with me if you would, this is the fed funds futures pit, u.s. interest rates, do you see the tumbleweeds blowing through the picks? take a look at what the bets are. the fed watches something the cme keeps out. the fed percentage possibilities of a fed rate hike. march 2014 meeting a year away, and 8% chance. in october 201432% chance. you have to go to the june meeting of 2015 before you get more than a 50% chance of a rate hike. what are the possibilities it will be a half a point where three quarters of a point or a point. we can break that down for you up there
time they expect the republicans to cave on raying higher taxes -- raising higher taxes. >> greg: i don't think this matter to anybody outside our building on sixth avenue. obama knows budget talks fall on deaf ears in education the last 30 years, fact-based information replaced by the feeling. financial education requires thinking. however, anti-bullying conferences need poyiansy in emotion. we will spend our way to oblivion and we obsessed over sex ed. it is time for real life education. forget where do babies come from? we need classes on where does money come from. it's not your daddy's wallet. >> bob: yes, it is. >> greg: my point is nobody knows where money comes from. >> dana: in your personal household? >> eric: you have three potential budgets. paul ryan's budget that deals with the spending. six or $7 trillion in spending cuts. patry ryan says there is a democrat that deals with the tax increases. president obama was one that -- in fact, every time he tries to propose a budget, it fails in the senate with zero -- >> dana: this is the first time in 92 years the congress moved f
to extend the bush tax cuts. four words stick out. campaign, and sell the public. when i hear that, i don't hear journalism, i hear infomercial. >> bill: professor, that is fact that he put out. that shows there is powerful national media advancing the cause of one political party. i think the founding fathers would be zun that had that is happening? >> i think the founding fathers would be disappointed because they wanted an i7bd press to be a watchdog. it has happened when the white house has invited reporters to visit and talk and they call them sympathetic reporters. so i don't think that is unusual but there is a blurring of that objectivity line. we don't see that standard in journalism because a lot of journalists are into advocacy and they are perfectly fine for that. >> bill: if you are commentator, you are allowed if your entire news organization you are not. it's could a lot lewd go with the democratic party in colorado and most powerful paper in the state. you see what happens. good legislation is getting knocked down. folks aren't getting to vote on it. >> bill: thank you. ge
progressives extending the bush tax cuts. four words, campaign and sell the public. when i hear that, i don't hear-- i hear sham wow guy and i hear-- >> that shows a powerful national media advancing the cause of one political party. and i mean, i think the founding fathers would be stunned that that's happening. >> i think the founding fathers would be disappointed because they wanted an independent press to be a watch dog of the powers that be. it's happened many times over the years the white house invited the reporters, to come in and talk and the white house calls sympathetic reporters at press conferences and what not. i don't think it's unusual, but i think there is a blurring of that be objectivity line that we don't see that standard in journalism laboring like we used to. a lot of them are into advocacy journalism and they're perfectly fine with that. >> bill: if you're a commentary you're allowed and if you're not-- and the democrat post colluding in colorado and you see he what happens. good legislations get knocked down and folks don't get to vote on it. and gentlemen, thank yo
escalation. number two, stocks closed lower on news of a plan plan to tax the bank account of the tiny nation of cyprus to help bail out the country infantry from financial crisis. number one, cops found a student dead with pistol and assault rifle and homemade explosives in his dorm at the university of florida in south orlando. that's "the fox report's" top five. on this day in 1963, the u.s. supreme court issued a land mark ruling that states have to provide a lawyer to a criminal defendant who can't afford one. it began with the 1961 arrest in florida of clarence earle gideon for breaking into a pool hall and stealing money from vending machines. he couldn't afford a trial attorney. that could hope happen in death penalty cases and wound up sentencing gideon five years in prison. he appealed claiming the conviction violated his constitutional rights. the supreme court upheld the claim and in a re-trial with a defense lawyer, gideon walked free thanks to historic decision 50 years ago today. and now you know the news for this monday, march the 18th, 2013. i'm shepard smith. i will see you
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